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What’s Eating into Your Retirement Pie This Thanksgiving?

What’s Eating into Your Retirement Pie This Thanksgiving?

Although Thanksgiving may look a little different this year for many of us, there are still plenty of things for us to be thankful for. A comfortable home, loving family, delicious food on the table and good friends, to name a few. And for individuals who are getting ready to retire or who are enjoying retirement already, having the time and resources to do the things they’ve been looking forward to is a big reason for thanks. But as we sit down to turkey and pie this Thanksgiving, we want to know: how can you make your retirement pie – meaning your financial and personal resources – last as long as possible?

“No one wants to waste money or spend more than they have to in order to live their best possible life,” says Jeanie Tini, Marketing Director at The Estates at Carpenters. “Even those with plenty of resources would prefer to enjoy their money in an efficient way and leave as much as possible to their estate and descendants. Some retirees choose to live in their family homes for as long as possible, thinking this is the most cost-efficient way to manage their resources and their retirement pie. However, moving to a retirement community can actually be more affordable and more enjoyable than you ever thought possible.”

Jeanie says that a Life Plan Community like The Estates at Carpenters can provide countless savings – and not just financial ones, either. “You can’t really put a price tag on peace of mind,” she says. “That’s exactly what a Life Plan Community provides for older adults and their family members. And that’s definitely something to be thankful for, both on Thanksgiving and the other 364 days of the year.”

What’s Eating into Your Retirement Pie?

Even if you no longer have a mortgage payment, home ownership isn’t free. Here are just some of the costs associated with home ownership that you may not think about as you’re looking at your financial situation.

Homeownership expenses.

Keeping a home tidy, clean and comfortable can cost a lot. If your air conditioner goes out, for example, you’re on the hook for a repair bill or a brand-new unit. Even if you have an event that falls under the purview of your home insurance (like a hailstorm ruining your roof), you still have to shell out for the yearly insurance premium, along with any deductibles required. And that’s just the unexpected stuff. Cleaning your house, keeping the lawn maintained, paying yearly real-estate taxes, utility costs … all those expenses can add up to a surprising amount of money and time.

Daily costs of living.

Buying groceries, cooking meals and washing up, going to therapy appointments, holding a gym membership, having a car (or two) plus the insurance required … those are a lot of little expenses that are just necessary parts of daily life. Sure, you can cut back on things here and there, but your retirement is your chance to enjoy life, not cut back on the things you like to do. In truth, all these things (even if you enjoy doing them) can be considered chores – tasks that eat up your time that you’d rather spend doing things that are fun and enjoyable.

Long-term health care.

As we get older, we often require more health assistance and services. Unfortunately, a lot of those services and assistance are pretty pricey – and the cost skyrockets every year. Health care is one of the biggest costs for retirees, even if they have long-term care insurance or Medicare. While certain services are covered by insurance, there are many more that aren’t. Another huge expense is making sure your living situation is appropriate for aging in place. Chair lifts grab bars, wheelchair ramps and other safety features aren’t usually standard fixtures in a normal family home, so you may find yourself embarking on a full-scale renovation if you choose to stay at home.

Have Your Pie and Eat It Too.

Ultimately, you want your retirement to be as enjoyable and worry free as possible. After looking at all the costs related to living at home, many older adults choose to stretch their retirement pie for as long as possible by moving to a retirement community like The Estates at Carpenters.

“While moving to a Life Plan Community does have expenses associated with it, life here is actually quite affordable when you break down everything you’re getting for your entrance and monthly fees,” says Jeanie. “Our monthly fee is all-inclusive, from monthly rent to dining to services and amenities to entertainment and so much more.”

One of the biggest costs and worries – health care – is easily managed at a Life Plan Community. “We pride ourselves on high quality at The Estates at Carpenters, and that extends to our amazing health care,” Jeanie says. “Our distinct Lifecare advantage means you will always find high quality, caring and dignified care no matter how your health needs change. Whether you require assisted living, skilled nursing services, short- or long-term rehabilitation or even memory care services, you’ll be able to receive it here at The Estates.”

The Estates at Carpenters is a nonprofit “Type A” Life Plan Community, which means that once you’re a resident, you’ll enjoy financial security and complete peace of mind for the years ahead. Should you ever require additional health or care services, you’ll receive them at the same monthly rate you’re paying as an independent living resident. This can potentially save you thousands on future health care costs, and gives you priceless peace of mind.

“We would love to show you so many reasons to be thankful about life at our community,” says Jeanie. “The Estates at Carpenters has so much to offer today’s retirees, now and in the future. We invite you to come visit our amazing community and see just how far your retirement pie can stretch … and just how much fun the future can be.”

About The Estates at Carpenters

The Estates at Carpenters is a Life Plan Community offering worry-free independent living, assisted living and high-quality skilled nursing care and rehabilitation. For over 34 years, The Estates has provided older adults in the area with an active, engaging lifestyle filled with abundant choices and the amenities and services that make life easier. A lifestyle designed to keep older adults healthy and well today – and tomorrow.

For more information on The Estates or to RSVP to an upcoming event, contact Jeanie at 863-279-4503 or visit our website.

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